Hyperliquid (HYPE) is experiencing significant selling pressure, correcting nearly 20% from its all-time high of $45 and falling below $38 in just 24 hours. This decline stems from a recent Treasury announcement that failed to create the expected buzz among investors.

Market reactions indicate that confidence in HYPE is wavering as traders assess the viability of its future growth strategies. The drop has raised concerns among investors about the sustainability of HYPE’s previous market performance.

Traders should be cautious and closely monitor further developments surrounding Hyperliquid, as volatility continues to shape the market. As such, staying informed about both positive and negative news regarding HYPE will be crucial for navigating these turbulent times in the cryptocurrency market.